Has the purposed of kyc been diverted?

[Saisher]

Day in day out there are new projects requiring kyc from investors
Exchanges requiring kyc, for some in order to maximize your ability to withraw large sums of cryptocurrencies and some even before you can trade on the exchange
The bigger question is how safe are our kyc documents?

I have read a lot of bad reports about KYC in bounty campaign, KYC and exchange verifications but of the three I prefer to do KYC to exchanges than airdrop and bounty campaign because exchanges are more compliant than the two, and besides I cannot do a trade on most exchange if I will not undergo KYC.

[fortunecrypto]

Day in day out there are new projects requiring kyc from investors
Exchanges requiring kyc, for some in order to maximize your ability to withraw large sums of cryptocurrencies and some even before you can trade on the exchange
The bigger question is how safe are our kyc documents?

Not really safe there is a big potential that they are going to sell it to the third party, but do we have an option and a choice, you cannot get your bounty stakes, if you do not undergo KYC, you cannot participate in an airdrop without KYC, and you cannot trade your coins if you did not underdo in exchange, it's one of the risks that we have to take.

[Samayuki]

Day in day out there are new projects requiring kyc from investors
Exchanges requiring kyc, for some in order to maximize your ability to withraw large sums of cryptocurrencies and some even before you can trade on the exchange
The bigger question is how safe are our kyc documents?

There is no way to know if your KYC details will be safe in the hands of exchanges, those who owns exchanges are humans too and anything can happen, instead of taking the risk it will be better to get used to DEX exchanges or find some exchanges that doesn't require any KYC details for trading or exchanging coins and tokens

[nur rochid]

Day in day out there are new projects requiring kyc from investors
Exchanges requiring kyc, for some in order to maximize your ability to withraw large sums of cryptocurrencies and some even before you can trade on the exchange
The bigger question is how safe are our kyc documents?

Not really safe there is a big potential that they are going to sell it to the third party, but do we have an option and a choice, you cannot get your bounty stakes, if you do not undergo KYC, you cannot participate in an airdrop without KYC, and you cannot trade your coins if you did not underdo in exchange, it's one of the risks that we have to take.

worse again when the project is over then there are kyc requirements, and for those who don't verify kyc won't get rewards, I have experienced it like that, even though we've worked hard to promote their project. but I am not disappointed, because the rewards calculation that I get a little, so it will be higher risk if we give up identity

[armarsterling7]

Day in day out there are new projects requiring kyc from investors
Exchanges requiring kyc, for some in order to maximize your ability to withraw large sums of cryptocurrencies and some even before you can trade on the exchange
The bigger question is how safe are our kyc documents?

I think companies and projects are looking to gather as much information from investors or bounty hunters. to easily control the amount of people using their money. or some other reason. But there has never been a case involving a KYC leak. It proves that your password is very secure, so don't worry about it

[santiPOGI]

For me, it depends on the information that they are going to ask. As long as it's not going to have any information about my bank accounts or where I live exactly, I am just good with that. I use my real name on facebook and my real picture so I don't have any problems with those information.

KyC required your National ID or passport, and those have your address and sometimes to support your Identification card they will also ask about your billing paper.
This is really something we should not entertain. But if we will talk about the bounty, what can we do? they sometimes not told it at the first that you need it.
KYC can be sell over the internet and that is dangerous.

[UniversityCoin]

I made it a rule not to send anyone my documents with KYC. This is due to the fact that exchanges are not responsible if my documents are stolen, and I do not understand why they need my documents, where they send them in the future and how they are used. I am sure that no documents are needed for trade.

[Distinctin]

I made it a rule not to send anyone my documents with KYC. This is due to the fact that exchanges are not responsible if my documents are stolen,

They are responsible if they are regulated, you can sue them if they will intentionally leak your information, I can guarantee you that.

and I do not understand why they need my documents, where they send them in the future and how they are used. I am sure that no documents are needed for trade.

They need it because they are required by the government or the regulators to impose that requirements to their client.
If they will not follow that, the regulators will cancel their license to operate or worst also penalize them, so it's the basic requirement for them to follow also.

[Mianae]

Kyc came as goverent regulation for projects to ensure they're operating under the government rules and not allow bandit and those under government watch not to participate in the ICOs or exchange trading. For instance if USA government says its citizens shouldn't trade token pairs on exchange if an exchange does it, they can be sanctioned for it. Kyc is necessary to ensure everyone is government  compliant.

[Mila52]

Kyc came as goverent regulation for projects to ensure they're operating under the government rules and not allow bandit and those under government watch not to participate in the ICOs or exchange trading. For instance if USA government says its citizens shouldn't trade token pairs on exchange if an exchange does it, they can be sanctioned for it. Kyc is necessary to ensure everyone is government  compliant.

The main problem of the crypto community is the lack of laws guaranteeing 100% security of personal data. That is why I try to avoid projects with the requirement of KYC.Now, many exchanges have begun to demand to pass KYC in hindsight, even those where I have a long-standing account.

[htsy585]

Day in day out there are new projects requiring kyc from investors
Exchanges requiring kyc, for some in order to maximize your ability to withraw large sums of cryptocurrencies and some even before you can trade on the exchange
The bigger question is how safe are our kyc documents?

I think companies and projects are looking to gather as much information from investors or bounty hunters. to easily control the amount of people using their money. or some other reason. But there has never been a case involving a KYC leak. It proves that your password is very secure, so don't worry about it

That's the more reason crypto investors should should be careful with where to input their personal data for kyc because most of these mushroom exchanges and airdrops/bounties are just kyc farmers for the dark Web or some sinister goal

[103deltafox]

It is really difficult to say our data are safe with all these projects, if it is possible then we need to cut off such projects that require kyc, it is possible our data could be sold, also from the name KYC, it is not meant for hunters but the reverse is the case.

[zuziekatee]

Kyc is not something that is permanent ! And also it’s optional for only people who whose to benefit from the achievement in the later future , it might be mandated as part of laws !